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Humana Reports $679 Million Profit As Medicare Business Improves

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Medicare Advantage

I've written about the business of healthcare for more than three decades, starting from my native Iowa where I covered the presidential campaign bus rides of Bill and Hillary Clinton through the Hawkeye state talking health reform and the economy.

its Medicare Advantage business, the company reported July 31, 2024. In this photo is a Humana office in Louisville, Kentucky, US, on Monday, July 31, 2023. Photographer: Jon Cherry/BloombergHumana Wednesday reported a $679 million profit thanks to higher-than-expected growth of its Medicare Advantage business.

Humana raised its 2024 individual Medicare Advantage annual membership growth expectations by 75,000 seniors to a new target of 225,000. That’s a 4.2% increase, according to the company’s second quarter earnings report. Humana’s stock had been suffering earlier this year after the company in late January reported a surprising 2023 fourth quarter loss and higher than expected medical costs from its Medicare Advantage business.

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